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United States of America : Steven Madden warns of lower quarterly profit

2004-7-26


US footwear company Steven Madden informed it expects profit in the second quarter of 2004 to be considerably below expectations as a 18 percent rise in retail sales was offset by a 6 percent sales drop and lower margins at the wholesale unit. Total sales are predicted to range between $85 million (€69.4m) to $86 million

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